Randall W. Crenshaw Sells 50,000 Shares of CommScope Holding Co. (COMM) Stock
CommScope Holding Co. (NASDAQ:COMM) COO Randall W. Crenshaw sold 50,000 shares of the company’s stock in a transaction that occurred on Monday, September 19th. The stock was sold at an average price of $31.18, for a total transaction of $1,559,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.
Shares of CommScope Holding Co. (NASDAQ:COMM) opened at 30.64 on Thursday. The stock has a 50 day moving average of $29.46 and a 200-day moving average of $29.50. The stock’s market capitalization is $5.90 billion. CommScope Holding Co. has a 52 week low of $19.37 and a 52 week high of $33.54.
CommScope Holding (NASDAQ:COMM) last released its earnings results on Thursday, July 28th. The company reported $0.74 earnings per share for the quarter, topping the consensus estimate of $0.69 by $0.05. The company had revenue of $1.31 billion for the quarter, compared to the consensus estimate of $1.30 billion. CommScope Holding had a negative net margin of 1.78% and a positive return on equity of 31.76%. CommScope Holding’s revenue was up 50.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.49 EPS. On average, equities research analysts expect that CommScope Holding Co. will post $2.50 EPS for the current year.
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Hedge funds have recently added to or reduced their stakes in the company. Societe Generale bought a new stake in CommScope Holding during the second quarter valued at $100,000. Acrospire Investment Management LLC increased its stake in CommScope Holding by 153.8% in the second quarter. Acrospire Investment Management LLC now owns 3,300 shares of the company’s stock valued at $102,000 after buying an additional 2,000 shares in the last quarter. Panagora Asset Management Inc. bought a new stake in CommScope Holding during the second quarter valued at $126,000. US Bancorp DE increased its stake in CommScope Holding by 90.1% in the second quarter. US Bancorp DE now owns 4,558 shares of the company’s stock valued at $141,000 after buying an additional 2,160 shares in the last quarter. Finally, Quantitative Systematic Strategies LLC acquired a new stake in shares of CommScope Holding during the second quarter valued at approximately $208,000.
COMM has been the topic of several analyst reports. Deutsche Bank AG dropped their target price on shares of CommScope Holding from $36.00 to $35.00 and set a “buy” rating on the stock in a research note on Friday, July 29th. BTIG Research began coverage on shares of CommScope Holding in a research report on Friday, June 17th. They set a “buy” rating and a $41.00 price objective on the stock. Credit Suisse Group AG restated a “buy” rating on shares of CommScope Holding in a research report on Friday, July 29th. TheStreet upgraded shares of CommScope Holding from a “hold” rating to a “buy” rating in a research report on Friday, July 29th. Finally, Zacks Investment Research upgraded shares of CommScope Holding from a “hold” rating to a “buy” rating and set a $32.00 price objective on the stock in a research report on Tuesday, August 2nd. Three equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $33.93.
CommScope Holding Company Profile
CommScope Holding Company, Inc is provider of infrastructure solutions for wireless, business enterprise and residential broadband networks. The Company operates through four segments: Wireless, Enterprise, Broadband and Broadband Network Solutions (BNS). Its Wireless segment provides merchant RF wireless network connectivity solutions and cell distributed antenna systems (DAS) solutions to enable carriers’ second generation (2G), third generation (3G) and fourth generation (4G) networks.
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